Advertising spend in the Irish market is forecast to grow by 13.3% to €877m this year, according to the Dentsu Ireland. However, this figure is still some way off the €921m that was spent in 2019, according to Dentsu.
According to Dentus’s 2021 Outlook forecast, TV’s share of ad spend will increase by 8.4% to €193m, up from €178m in 2020 while radio could be looking at an 12.3% boost to €128m, up from €114m last year. Both the TV and radio forecasts are ahead of the 2019 figures when TV advertising amounted to €189m and radio advertising amounted to €124m.
Press, meanwhile, is forecast to grow by 6.3% this year to €85m, up from €80m last year but still a long way off the estimated €96m reported in 2019.
OOH and cinema, both of which were adversely effected during the three lockdowns, will also see a boost with OOH, expected to grow by 25.5% this year to €59m, up from €47m last year while cinema is forecast to grow by 38.9% this year to €2.5m from around €1.8m last year. However, both cinema and OOH have some way to go to match the €6m and €86m that was respectively achieved in 2019.
Digital, meanwhile, will continue to grow its share of the market and Dentsu is forecasting a 15.9% lift to €409m this year, up from €353m in 2020 but still some way off the €420m spent in 2019.
Dentsu cautions that the forecasts are based on “a return to near normal economic activity from September 2021.”